GITNUX MARKETDATA REPORT 2024

Drug Discovery Industry Statistics

The drug discovery industry is a key sector in healthcare, with a high rate of investment in research and development to bring new treatments to market.

Statistic 1

"Biotechnology companies have an R&D investment growth rate of around 10% per year."

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Statistic 2

"Europe holds the second-largest share in the global drug discovery market."

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Statistic 3

"It takes around 10-15 years on average to develop a new drug."

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Statistic 4

"Drug discovery using AI can reduce R&D costs by up to 30%."

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Statistic 5

"About 39.5% of companies in the drug discovery industry are using AI technology."

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Statistic 6

"On average, it takes about 4-6 years for a drug candidate to progress from preclinical testing to early clinical trials."

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Statistic 7

"The success rate for drugs moving from Phase I trials to the market is roughly 10%."

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Statistic 8

"The average cost to bring a new drug to market is approximately $2.6 billion."

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Statistic 9

"The market size for AI in drug discovery is expected to reach $3.19 billion by 2027."

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Statistic 10

"The FDA approves about 12% of all drugs that enter clinical trials."

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Statistic 11

"The biopharmaceutical industry spent approximately $83 billion on R&D in 2019."

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Statistic 12

"On average, there are about 7,000 active drug discovery projects at any given time."

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Statistic 13

"Novel drug approvals by the FDA peaked at 30 in 2019."

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Statistic 14

"The global drug discovery market was valued at $61.9 billion in 2020."

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Statistic 15

"Approximately 127 new drugs have been approved by the FDA between 2010 and 2020."

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Statistic 16

"The oncology segment dominates the drug discovery market, accounting for 37% of the total revenue."

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Statistic 17

"Outsourcing in drug discovery is increasing, with around 44.5% spent on CRO/CMO services in 2019."

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Statistic 18

"Around 90% of clinical drug candidates fail during the development stage."

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Statistic 19

"Small molecules constitute about 75% of the drugs in the market."

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Statistic 20

"The U.S. is the largest market for drug discovery, accounting for around 45% of the global market."

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